SHANGHAI, Jul. 24 (SMM) –Without fresh output cut news, aluminum prices will continue hovering at highs this week, SMM predicts.
SMM sees SHFE 1709 aluminum trading between 14,300-14,550 yuan/tonne and LME aluminum between $ 1,910-1,945/tonne.
In domestic spot market, growing stocks will leave suppliers more eager to sell, while traders and downstream producers will be cautious about buying. Spot discounts will remain high at 140-160 yuan/tonne.
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